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Why comment with an incorrect statement on something you don’t seem to know much about? Most proof of stake algorithms allow people to delegate coins to validat
by woah 5y ago
Why comment with an incorrect statement on something you don’t seem to know much about? Most proof of stake algorithms allow people to delegate coins to validators who run actual nodes. The coins are still in control of the user, but they will lose some if the validator they have delegated to misbehaves.
- ulzeraj 5y agoI'm not talking about who owns the coins. I'm talking about the fact that people will just use the managed nodes hosted by exchanges to stake because there are penalties for poorly configured or offline nodes. As a result you have a huge chunk of your network controlled by exchanges who besides controlling the ramps for fiat money and custody of your coins now they also become the heaviest validators. Tell me how this is not a weird clone of our current financial system.